Here's Where VA Property Taxes Rank Among States

Virginia is among the U.S. states where residents have to pay the least property taxes, according to a new analysis and ranking by financial website WalletHub.

To find out which states have the highest property tax burden, WalletHub researchers examined real estate and vehicle property taxes across all 50 states and the District of Columbia. Additionally, researchers consulted a panel of property-tax experts for both practical guidance and policy insight.

WalletHub then ranked each state, with No. 1 signifying the state with the lowest property tax burden and No. 51 being the highest.

“Some states charge no property taxes at all, while others charge an arm and a leg," WalletHub analyst Chip Lupo said. "Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city.”

Virginia was ranked 21st in WalletHub's analysis of real estate property taxes. With an effective rate of 0.73 percent and a median home value of $383,700, the average annual tax paid by homeowners is $2,790.

While the real estate property tax burden is relatively low for Virginians, that's not the case for the state's vehicle property taxes. Virginia ranked dead last among the 26 states that levy vehicle property taxes, with residents paying an average of $1,156 in taxes on a $29,000 car.

Here's a look at the top 10 states with the highest real estate property tax burden:

1. New Jersey
2. Illinois
3. Connecticut
4. New Hampshire
5. Vermont
6. New York
7. Texas
8. Nebraska
9. Wisconsin
10. Iowa

The following are the 10 states with the lowest real estate property tax burden:

1. Hawaii
2. Alabama
3. Nevada
4. South Carolina
5. Colorado
6. Arizona
7. Idaho
8. Tennessee
9. Delaware
10. Utah

The average U.S. household pays $3,119 per year in property taxes on their home, according to the U.S. Census Bureau, and residents in the 26 states that levy vehicle property taxes pay an additional $499 annually.

See the full ranking at WalletHub.com.